Bordeaux president Jean-Louis Triaud is hopeful but not optimistic the club can land Lorient forward Kevin Gameiro.
Les Girondins have had an offer accepted for the coveted hot-shot, who has scored eight goals in 17 games this term.
While the striker, who made his France debut in September's European Championship qualifying defeat to Belarus, favours a move to Valencia, Triaud still hopes a deal can be done.
He told L'Equipe: "Until he poses with the Spanish club's jersey, we can continue to hope. But I am not very optimistic."
But a possible move to the Primera Division could be thwarted by Valencia's financial difficulties, which mean they are unlikely to improve significantly on their current offer.
Bordeaux shareholder Nicolas de Tavernost hopes the transfer will be resolved quickly - and if the deal falls through, there are always other possibilities.
He said: "We are hoping for a swift response, we will not wait for weeks. If not, there are other options."